Fintech

Nigerian fintech company, Xerde, creates a new funding solution for businesses in Africa

Fintech company, Xerde, has unveiled its new application, Tudo, an innovative funding solution for businesses.

The new service provides social funding solutions that will drive innovation and encourage digital transformation by offering a range of accessible solutions to organisations in Africa.

Read also: South Africa’s Edtech Startup, HyperionDev, Secures $2mn

The app was developed following demands for funding of social welfare initiatives in the wake of COVID-19 pandemic that hindered many small and large businesses and charities from operating and resulted in millions losing their livelihoods.

Xerde technology is a startup that launched 12 months ago. The rollout of the new application coincides with the firm’s first anniversary.

“Tudo is a Social Fintech which enables financial collaboration by providing users with an alternative way to achieve social financial goals by creating and then sharing them with contacts to achieve them faster with the contribution of each individuals’ extended network,” Khadijat Abdulkadir, founder of Xerde, said.

Abdulkadir, who has worked with world-leading organisations in the industry such as Microsoft and Accenture USA and Apside France, further added that the app provides an option for anonymity while also ensuring users’ protection via a high-level encryption.

Read also: Fintech Startup Blueloop, Secures, US$125k in Pre-Seed Funding Round

Explaining how it works, she said that users of the app can set up a group, have in-app chats and group discussions, or set individual targets.


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She said that the COVID-19 pandemic has led to a demand for technological solutions, with companies fighting to mitigate the losses incurred by the virus.

Xerde had used its technology to assist businesses in their strategies as they navigated their way through the past 12 months, she revealed.

“With a beautiful user-friendly interface and robust offerings such as in-app messaging, goal likes, goal sharing, contribution tracking, group management, videos and images to tell your story, and even a referral program to help users earn money; Tudo is quite possibly the facebook for finance,” she added.

Read also: Flourish Ventures expands to East Africa, to support African fintech startups

Each member who signs up to Tudo can see who has contributed what funds, just as they share messages, photos, and videos within an interactive user interface.

Fintech is a swiftly emerging market in Africa. In early 2020, figures showed that VC funding for African fintech startups had risen significantly.

Venture capital up 51% with funding being generated for virtual banking projects, consumer credit checks and finance apps.

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